Sakhalin and the Republic of Korea Strengthen Co-operation
Seoul hosted the first formal meetings within the framework of the official visit of the Russian delegation led by Viktor Ishaev, Presidential plenipotentiary envoy in the Far Eastern Federal District of Russia
YUZHNO-SAKHALINSK. August 28. VOSTOK-MEDIA – Seoul hosted the first formal meetings within the framework of the official visit of the Russian delegation led by Viktor Ishaev, Presidential plenipotentiary envoy in the Far Eastern Federal District of Russia.
The delegation consists of state officials of Khabarovsk Region, Primorsky Krai and the Sakhalin Region as well as representatives of the leading companies of the Russian Far East. This morning the members of the delegation have already held a meeting with Yu Myung-hwan, Minister of Foreign Affairs and Trade of the Republic of Korea, where the issues relating to the potential mutually-beneficial co-operation were discussed. Delivering his speech at the meeting, the Governor Alexander Khoroshavin stressed that the trade turnover between the Sakhalin Region and the Republic of Korea reached almost US $5 billion in 2008, which is one-fourth of the total trade turnover between Russia and Korea in 2008. Despite the sharp fall in crude oil prices, which is the key Russian export item to Korea, the first half of this year has seen a dynamic growth in trade balance between the Sakhalin Region and the Republic of Korea totaling in US $1 billion. Sakhalin became a reliable GNC supplier for the Republic of Korea. Korea has participated in the establishment of almost 100 companies in this island region, with its direct investments to the joint ventures authorized capitals amounting to about US $140 mln. Alexander Khoroshavin emphasized that the basic investments are being attracted in the service industry, trade and construction of office centers and that it has a positive influence on the region.
Delivering his speech at the meeting, the Governor of the island region also highlighted the major guidelines for co-operation between the Sakhalin Region and the Republic of Korea, dwelling upon the subject of participation of the Korea’s capital in the development of the coal mining industry of Sakhalin. The proven reserves of the Solntsevskoye deposit alone are estimated at about 155 mln tons and the probable reserves are about 2 billion tons.
Alexander Khoroshavin pointed out at the territorial proximity, transport accessibility and and about 40,000 Korean expat community involvement, as the positive factors of the co-operation. He also stressed that both the residents of the Sakhalin Region and Kuril Islands hold the Korean culture in respect. The region has its local daily, broadcasts, a talk show in the Korean language and also a Korean cultural center. 17 non-profit organizations have been created there. The Korean language is taught in schools.
In conclusion Alexander Khoroshavin extended his gratitude to Yu Myung-hwan, Minister of Foreign Affairs and Trade of the Republic f Korea, for the support provided by the Korean Government to the Salhalin Koreans, who had moved to their home land.
Today early in the afternoon the Russian delegation met with the President of the Republic of Korea Lee Myung-bak, reported press service office of the regional Administration.